Disposable Income: 4.5m British adults have less than £10 a month

According to new research from budgeting account provider thinkmoney 1 in 11 people, or 4.5 million British adults, have less than £10 a month disposable income (that’s money left over once they have paid their essential bills).

With many households struggling to make ends meet, the research reveals just how worryingly small the amounts of disposable income people have left once they’ve met all their financial commitments. Further questioning revealed that a quarter of people (25%) said they had less than £50 a month to spend after bills and mortgage payments.

Across the UK, the average monthly disposable income was £224.50. However, there was a wide gender difference – men reported having disposable incomes averaging £272.50, some 43% higher than women (£190.20).

Unsurprisingly, young people reported having the least disposable income with 18-24 year olds averaging £174.20 (22% below the overall UK average). This is in contrast to the wealthiest in terms of post bills spending money who were people over 65, with an average of £269.50 a month available to spend.

The amount of disposable income also varies depending on where people live. It is highest in London, with an average of £261, and the South East, at £244. People in the North East and Wales have the lowest disposable incomes, at £199 and £181 respectively. Worryingly, 16% of people questioned in Wales said they had less than £10 a month to spend after bills and mortgage payments.

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